The three main stock indices of the US market fell on Tuesday morning. Wall Street reverses and takes a step back after a timid opening in the positive, still attending to the expectations for the next movements to the fed rates.
The index Dow Jonesmade up of the papers of 30 industrial giants, falls 0.88% to 31,816.83 units, while the extended reference, the S&P 500 of 500 values, yields 1.10% to 3,986.17 units. The Nasdaq technological loses 1.25% to 11,866.96 points.
Stocks made timid gains in the opening minutes of trading, but quickly retreated without being able to consolidate a rally after two sessions weighed down by comments Friday on inflation from the Fed chairman, Jerome Powell.
Powell said in Jackson Hole on Friday that the US economy needed tight monetary policy for a while, warning that fighting inflation would hurt families and businesses, but it would be even worse to give up.
The expectations for the next increase in interest rates in the United States have focused on a new movement of 75 basis points in the price of money against one of half a percentage point that analysts expected before Powell’s speeches.
Among the main subsectors of the S&P, the sharp drop in energy companies stands out, hit by a 4% drop in oil. Within the Dow Jones index, only Nike advances (0.2%) and the losses are led by Caterpillar, with 3.24 percent.
jose.rivera@eleconomista.mx
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